Sen. Lindsey Graham (R-S.C.) recently introduced a joint resolution of disapproval to nullify the Consumer Financial Protection Bureau’s rule regulating the short-term, small-dollar lending industry. This is the second such resolution introduced since the rule was finalized in October 2017.
To pass the Senate with only a simple majority, a CRA resolution must be acted upon within 60 legislative days of its publication in the Federal Register or of its referral to the Senate committee, depending on which occurs first.
Read on to find out more about the resolution.